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Oh gosh, most of the discussion here has been in forums I can't send you to. There is a thread in "Security news" that you can hunt down.
Giant Antispyware (now MS Antispyware) has been known for false positives. It did not have a big share of the market when it sold to MS. etc, etc, etc.
It uses a new idea called Spyware Network which allows each user's PC to communicate unwanted invasions to the network, which can then repond appropriately. Some will not like this, as the system "phones home".
The tech is good. The Spyware Network thing is intriguing. There are many, many positives.
Give it a shot; it's not trash, by any stretch of the imagination. Make a note to yourself to come back and let us know how things are going.
I believe that MS is going to charge after the Beta, so get it while it's hot.
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